Britain: BOAC Flies Low

Embarrassed by having to report to British taxpayers on the profitless sputterings of British Overseas Airways Corp. its chairman, Sir Matthew Slattery a retired admiral, exploded like the old salt he is: "I have taken the opportunity of my first full year as chairman of the corporation to point out that I think its financial structure and the way it's expected to operate is just bloody crazy."

Among the bloody crazy things that rile Sir Matthew is that nationalized BOAC, which lost $40 million last year, has to pay $11 million a year...

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